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Fiat Chrysler and Peugeot boards meet to finalize merger

MILAN/PARIS — The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. A source close to FCA said the two companies could announce the signing of a binding memorandum early on Wednesday, followed by a conference call to explain further details later in the day. The two mid-sized carmakers announced plans six weeks ago for a tie-up to help them deal with big challenges in the industry, including a global demand downturn and the need to develop costly cleaner cars to meet looming anti-pollution rules. Ahead of the meetings, entities representing the Peugeot family, Etablissements Peugeot Freres (EPF) and FFP, unanimously approved a proposed memorandum of understanding for the planned merger, a source familiar with the situation said. FCA and PSA have said they would seek to finalize a deal by year-end to create a group with 8.7 million in annual vehicle sales. That would put it fourth globally behind Volkswagen, Toyota and the Renault-Nissan alliance. PSA's Carlos Tavares will be chief executive and FCA's John Elkann — the scion of Italy's Agnelli family, which controls FCA through their holding company Exor — chairman of the combined company. The group will include the Fiat, Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati, Peugeot, DS, Opel and Vauxhall brands, allowing it to serve mass and premium passenger car markets as well as those for trucks and light commercial vehicles. Related Video:       Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

Georgia judge slashes verdict to $40M in Jeep fire case

A judge in Georgia has drastically reduced the damages that Fiat Chrysler Automobiles will have to pay to the family of Remington Walden, who a court said died as a result of the unsafe design of one of its vehicles. While the jury originally awarded the family $150 million at FCA's expense, Judge J. Kevin Chason cut that amount to $40 million, the Detroit News reported. The automaker may still appeal the verdict. The case dates to March 2012, when a 1999 Jeep Grand Cherokee in which four-year-old Walden was riding was rear-ended by another vehicle. Due to what the jury ruled was an unsafe fuel tank, a fire erupted, and Walden died in the fire. The family's lawyers successfully argued that the automaker knew there was a problem and didn't take sufficient action to address the issue, while FCA countered that its vehicles met the applicable safety standards when they were built. The jury found FCA 99 percent responsible for the fire and Walden's death, reserving the final one percent for the driver who caused the crash. The court awarded the Waldens $150 million in damages to be paid by the automaker: $120 million for wrongful death, and a further $30 million for pain and suffering. FCA, however, argued that the damages were disproportionate to the incident, noting that the $120 million was 11 times higher and the $30 million four times higher than any comparable awards upheld on appeal in the state. Chason agreed and cut the penalties extensively. The Walden family has reportedly accepted the reduced verdict. But according to the News, company spokesman Michael Palese said, "The reduction in the damage awards does not cure the many errors that tainted this verdict and denied FCA US a fair trial. We are considering our legal options." News Source: The Detroit NewsImage Credit: Jeep Government/Legal Recalls Jeep lawsuit court

You probably won't see FCA's famous Easter eggs on an Alfa Romeo

They started in Jeeps, with images of seven-slot grilles showing up on windshield edges, the text "SINCE 1941" appearing in the clear plastic of headlight units, and a relief map of Moab engraved into a rubber cubby liner. Then a Chrysler got a map of Detroit and the outline of Laguna Seca materialized near the Viper's window switch. We've come to call them Easter eggs, but Klaus Busse points out that they were never really meant to be secrets, just ways to dress up what he calls "dead plastic." He's nevertheless cool with the phrase being applied and likes the enthusiastic response these design details get. Busse is intimately familiar with many of them, having signed off on many of them in his time as head interior designer for FCA's US operations. He recently moved to Europe to lead Alfa Romeo, Maserati, and Fiat design there, so when I caught up with him next to the new Stelvio crossover at the Alfa stand in LA, I had to ask: Are we going to see any of those neat design details in Alfas or Maseratis anytime soon? The short answer is no. But he didn't say it's out of the question. Busse said if, for example, a designer wanted to put an Italian phrase somewhere on a car that was in keeping with the brand, he would allow it. Although he didn't come out and say it, it seems like he might feel this type of fun design element isn't necessarily appropriate for a higher-end brand like Alfa. And I get that. But I'm still going to check all the compartments of that new Alfa crossover for a map of the Stelvio Pass. Related Video: Featured Gallery 2018 Alfa Romeo Stelvio: LA 2016 View 11 Photos Design/Style LA Auto Show Alfa Romeo Jeep 2016 LA Auto Show easter egg